1. Maria plans to invest some money so that she has $3,100 at the end of three years. Determine how much should she invest today given the following choices

a.4.2 percent compounded daily.

b. 4.9 percent compounded monthly.

c.. 5.2 percent compounded quarterly.

d, 5.4 percent compounded annually.

2. You have just inherited $550,000. You plan to save this money and continue to live off the money that you are earning in your current job. If you can invest the money in a bond that pays 5.29 percent interest annually, how long will it be before your inheritance is worth $1 million?